Monica Long on the stables flurry
Quote from zerpie on October 3, 2025, 6:52 pmExcellent thread by Ripple President Monica Long.
https://twitter.com/MonicaLongSF/status/1974158432262656212?ref_src=twsrc%5Etfw
Monica analyzes the rise in stablecoin payments dominating both bank earnings calls and crypto communities, noting the market cap hit $210 billion by September 2025. While acknowledging blockchain’s growing role in traditional finance and DeFi, she criticizes the launch of over 100 new USD stablecoins as FOMO-driven, comparing it to the 2021 NFT hype.
Monica points out that only a few stablecoins offer real-world utility—such as interbank transfers or loyalty programs—but stresses their high issuance and compliance costs.
She warns against untested networks and bespoke blockchains, urging careful assessment of fees and licensing. Instead, Long promotes efficient public ledgers like the XRPL, which already provide liquidity and decentralization without years of costly groundwork.
My take? Many stables will fail. The future suggests consolidation: a few dominant stablecoins (likely USD-anchored, regulated, on major public ledgers) plus some niche ones tied to banks or regions.
Excellent thread by Ripple President Monica Long.
Stablecoin payments are all over banks'/payment companies' earnings calls and crypto twitter. What gives? 🧵 (1/7)
— Monica Long (@MonicaLongSF) October 3, 2025
Monica analyzes the rise in stablecoin payments dominating both bank earnings calls and crypto communities, noting the market cap hit $210 billion by September 2025. While acknowledging blockchain’s growing role in traditional finance and DeFi, she criticizes the launch of over 100 new USD stablecoins as FOMO-driven, comparing it to the 2021 NFT hype.
Monica points out that only a few stablecoins offer real-world utility—such as interbank transfers or loyalty programs—but stresses their high issuance and compliance costs.
She warns against untested networks and bespoke blockchains, urging careful assessment of fees and licensing. Instead, Long promotes efficient public ledgers like the XRPL, which already provide liquidity and decentralization without years of costly groundwork.
My take? Many stables will fail. The future suggests consolidation: a few dominant stablecoins (likely USD-anchored, regulated, on major public ledgers) plus some niche ones tied to banks or regions.